Sonos stock jumps after Raymond James upgrade

Sonos Inc. shares are up more than 5% in premarket trading Monday after Raymond James analyst Adam Tindle upgraded the stock to strong buy from outperform, citing favorable comparisons to peers. "Consider, Sonos currently trades in the same zip code as niche product company GoPro , and unprofitable company Arlo , yet Sonos has a two year revenue [compound annual growth rate] that is essentially double these companies and has done so while improving Ebitda margin and generating positive cash flow," he wrote. "We think this narrative changes as Sonos scales beyond its existing markets." He sees "early indications" that Sonos is gaining traction in some newer areas, including a partnership with Ikea. The stock has gained 13% over the past three months, as the S&P 500 has risen 1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. Weiter zum vollständigen Artikel bei "Market Watch"